Required information The following information applies to the questions displayed below Carl purchased an apartment complex for $3.1 million on March 17 of year 1. of the purchase price, $1,300,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $80,000. (Use MACRS Table 1. Table 2. Table 3, Table 4 and Table 5.) (Enter your answers in dollars and not in millions of dollars.) a. What is Car's allowable depreciation deduction for his real property for years 1 and 27 (Round your final answers to the nearest whole dollar amount.) Year Depreciation Expense TABLE 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 15-Year 3-Year 7-Year 20-Year 5-Year 10-Year Year 14.29% 24.49 17.49 2.49 8.93 8.92 8.93 4.46 3.750% 7.219 6.677 33.33% 44.45 14.81 7.41 10.00% 18.00 14.40 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 5.00% 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 20.00% 32.00 9.20 11.52 11.52 5.76 4 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 10 13 16 17 20 TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 7-Year 6.00 15.60 11.01 11.01 1.38 21.43 15.31 10.93 8.75 874 8.75 .09 TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 7-year 25.00% 30.00 18.00 11.37 11.37 17.85% 23.47 16.76 11.97 B.87 887 B.87 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 7-Year 5.00% 34.00 20.40 1224 11.30 7.06 10.71% 25.51 18.22 13.02 9.30 8.85 TABLE 2d MACRS-Mid Quarter Convention: For property placed in service duning the fourth quarter Depreciation Rate for Recovery Period 500% 3.57% 2755 19.68 14.06 1004 873 873 7.64 22.80 13.68 1094 9.58 03 3. 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 1 3, 3 3 3 3 3 3 3 3 3. 3. 3 3 3 3 1. 33 66 36 37 36 750 1333333333333333 3330 8 13 3. 3 3 3 133333333333333 3. 3 3 3 3 3 0 3. 3. 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 33333 3. 3. 3. 3. 3. 3. 3 3 3 3 3 3 3 3 3 3333333333332 23333333333333333333 2. m1 2-0 10 1 2 3 4 5 6 7 8 9 20 21 2 2 2 2 2 2 2 2 BL 1-901 May 13, 1993) Month Property Placed in Service 10 0661% 0.397% 0.1 32% 3.175 3.175 0.926% 2.249% 1.455% 3042% 2.778% 3.175 2.513% 3.175 1984% 3.175 3.175 3.175 .175 3.174 3.175 3.175 3.174 3.175 3.174 3.174 3.174 3.175 3.175 3.175 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.174 3175 3.174 3.175 3.174 3.175 12 3.175 3.174 3.175 3.174 3.1743.175 3.174 3.175 3.174 3.175 3.174 15 16 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.174 18 19 20 21 3.174 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.174 3.175 3.174 3.174 3.175 3.174 3.174 3.174 3.174 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 24 26 28 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 29 3.174 3.175 3.042 3.174 3.174 3.175 3.174 3174 0.397 32 0661 0.926 ABLE S Nonresidential Real Property Mid-Month Convention Straight Line-39 Years (for assets placed in service on or after May 13, 1993) Month Property Placed in Service Year 10 12 2.461% | 2.247% | 2033% | 1819% | 1605% 1.391% | 1.177% | 0963% | 0.749% | 0.535% | 0.321% | 0.107% 2-39 2.564 40 0.107 0.321 2.564 2.564 0.535 0.749 0.963 2.564 2.564 2.564 1.391 2.564 .605 2564 2.564 2.564 2.564 1819 2033 2.247 2461 1.819